In 2023, the coniferous wood fuel production in India was benchmarked against the forecasted values presented for the subsequent years. For 2024, the production is projected to remain at approximately 9.0214 million cubic meters. A slight declining trend is expected, with year-on-year values marginally decreasing to 9.0202 million cubic meters in 2025 and further down to 9.017 million cubic meters by 2028.
Year-on-year variations over the upcoming years are minimal, indicating a highly stabilized production volume. Specifically, from 2024 to 2025, production is expected to decrease by 0.013%. This gradual decline continues with similar marginal reductions each subsequent year.
When looking at the forecasts from a longer-term perspective, the Compound Annual Growth Rate (CAGR) over the next five years is near-nil, suggesting an almost consistent production scale without significant fluctuations.
Future trends to watch for:
- Environmental Policies: Changes in environmental regulations and policies which could impact wood fuel production.
- Technological Advances: Improvements in wood harvesting and processing technology that may affect production efficiency and output.
- Market Demand: Shifts in domestic and international demand for coniferous wood fuels, especially with emerging renewable energy sources.